Bitcoin Dominance Battles 59% Resistance as Institutional Buying Heats Up

Bitcoin dominance faces a critical test as it struggles to stay above 59%, nearing resistance and potentially setting the stage for a market shift. Institutions, including Asia’s first Bitcoin treasury fund and MicroStrategy, are significantly increasing their investments in BTC, contributing to this uncertainty. While technical patterns hint at potential upward movement towards 61% and even $117,000 prices, some analysts remain cautious about the long-term trajectory of dominance. A sustained break above resistance could lead to a renewed influx of capital back into Bitcoin, potentially strengthening its market leadership.